NorCal Community Bancorp of Alameda, Calif., posted a $2 million first-quarter loss, compared with net income of $340,000 a year earlier.

The $255.3 million-asset company attributed the loss to a higher loan-loss provision, which increased five-fold, to $2.5 million from $500,000 in the first quarter of 2009. The rise was associated with the asset writedowns of real estate development and commercial loans.

Stephen G. Andrews, NorCal's chief executive, said in a press release Friday that the provision, along with increased chargeoffs, reflect NorCal's "realistic view of the current market values and the collectability of its problem loans."

Nonperforming assets were $22.6 million, or 8.86% of total assets, a year-over-year increase of 311 basis points. NorCal reduced its real estate and construction loans as well as land development loans, by more than half in the first quarter, shrinking its total portfolio by 20%.

As of March 31, NorCal's main subsidiary, Bank of Alameda, had a total risk-based capital ratio of 12.9%.

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